Exports are driving red meat demand. August export data was released yesterday, and beef shipments were $1.04 billion for the month (a record for any month), and pork exports were $634 million. Part of that was higher prices; August was only the second highest volume of the year for beef exports, despite the value record, May’s volume was larger. Nonetheless, those values were also driven by volume. Compared to August of last year, beef export value was up 55 percent, and volume was up 21 percent. For pork, export value was up 20 percent and volume was up 4 percent, and for the year to date, pork exports are on a pace ahead of last year’s record volume. More volume at higher prices defines increased demand for U.S. red meat. A...
What You Need to Know Today: The cattle market rebounded sharply this week, with January feeder cattle futures gaining $16.98/cwt and February live cattle futures advancing $7.60/cwt since last Friday. Tyson Foods' plans to restore a second processing shift at its Amarillo, Texas, facili...
Tuesday’s CPI report from the Bureau of Labor Statistics (BLS) showed inflation roaring back stronger than expected in October. That probably locks in another rate hike – which was expected anyway – at the Federal Open Market Committee (FOMC) meeting in December. Consumer pric...
Key Takeaways: The rationale for farm programs has changed significantly from their original intentions. Farmers’ incomes have grown sharply and have surpassed non-farm incomes beginning in the 1970s. Current farm programs are complex and focus on supporting risk management, environmenta...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.